2013-04-15T11:25:25-05:00 2012-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2011-07-01 520635092 LANDON SCHOOL CORPORATION LAND 3013203200 6101 WILSON LANE BETHESDA MD 20817 DAVID M ARMSTRONG 3013203200 2013-04-12 1 WILLIAM E TURCO CPA P00369217 3012963600 2011 2016-03-07 17:11:31Z DAVID M ARMSTRONG 6101 WILSON LANE BETHESDA MD 20817 31503939 0 X WWW.LANDON.NET X 1936 MD MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 25 24 336 25 0 0 3736181 3730280 23132758 23666130 308501 501582 290811 262885 27468251 28160877 2380067 3022972 0 0 17342542 17750789 0 0 1269344 9300710 8750932 29023319 29524693 -1555068 -1363816 40597554 39149018 25867505 26420388 14730049 12728630 LANDON SCHOOL PREPARES TALENTED BOYS FOR PRODUCTIVE LIVES AS ACCOMPLISHED, RESPONSIBLE AND CARING MEN WHOSE ACTIONS ARE GUIDED BY THE PRINCIPLES OF PERSEVERANCE, TEAMWORK, HONOR AND FAIR PLAY. 0 0 24433805 3022972 23666130 MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 24433805 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 81 0 1 336 1 0 0 0 0 0 1 1 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEREMY KUGEL 3013203200 6101 WILSON LANE BETHESDA MD 20817 H SHERMAN JOYCE 1.50 X X 0 0 0 JOSEPH KENARY JR 1.50 X X 0 0 0 STEVEN BERNARD GEWITZ 1.50 X X 0 0 0 WILLIAM CARTER HERTZBERG 1.50 X X 0 0 0 MARIO BOIARDI 1.50 X 0 0 0 HILLARY BALTIMORE 1.50 X 0 0 0 STEPHEN COMISKEY 1.50 X 0 0 0 MICHAEL J DARBY 1.50 X 0 0 0 FRANCIS O DAY IV 1.50 X 0 0 0 NANCY DUBER 1.50 X 0 0 0 MICHELLE FREEMAN 1.50 X 0 0 0 JEFFREY HARRIS 1.50 X 0 0 0 WALLACE F HOLLADAYJR 1.50 X 0 0 0 BRIGHAM KIPLINGER 1.50 X 0 0 0 STEPHAN KLINGELHOFER 1.50 X 0 0 0 DANIEL KORENGOLD 1.50 X 0 0 0 JOHN PENDLETON LEACHMAN JR 1.50 X 0 0 0 CHRISTOPHER MANNING 1.50 X 0 0 0 EVAN BRETT MCMAHON 1.50 X 0 0 0 AMY MEHLMAN 1.50 X 0 0 0 TUSHAR PATEL 1.50 X 0 0 0 HOUSTON KEITH POWELL 1.50 X 0 0 0 STACEY ROBINSON 1.50 X 0 0 0 DALE WOLF 1.50 X 0 0 0 LAURA ZAIMI 1.50 X 0 0 0 DAVID M ARMSTRONG 60.00 X X 326680 0 91219 TIMOTHY HARRISON 60.00 X 230123 0 66290 KENNETH ASHWORTH 60.00 X 184248 0 67862 MARCOS WILLIAMS 60.00 X 134075 0 63011 EHREN FEDEROWICZ 60.00 X 116151 0 63096 HANS FARNSTROM 60.00 X 145433 0 18147 ALAN ROSENTHAL 60.00 X 129725 0 10293 JAMES KIRKPATRICK 60.00 X 117958 0 17224 SHARON KARLIN 60.00 X 117785 0 10802 ALBERT MURRAY 60.00 X 113607 0 23940 1615785 0 431884 23 0 1 0 SODEXO INC PO BOX 536922 ATLANTA GA 30353 FOOD SERVICE 795732 RED COATS INC 4401 EAST-WEST HIGHWAY BETHESDA MD 20814 CUSTODIAL SERVICE 335300 FORRESTER CONSTRUCTION COMPANY 12231 PARKLAWN DRIVE ROCKVILLE MD 20852 CONSTRUCTION 275749 BISHOP'S TENNIS 25285 EVERGREEN MILLS RD STERLING VA 20166 CONSTRUCTION 137420 JW CULLOP 7404 WOODVILLE ROAD MT AIRY MD 21771 MAINTENANCE 104227 5 115720 3614560 164085 3730280 TUITION & FEES 900099 21424514 21424514 AUXILIARY SERVICES 900099 2241616 2241616 23666130 275337 275337 3029911 297369 3028566 72469 1345 224900 226245 226245 481949 115720 242027 239922 239922 OTHER INCOME 900099 22963 22963 22963 28160877 23666130 0 764467 3022972 3022972 1355467 1057414 239755 58298 12667292 10416261 1640801 610230 759311 537566 195670 26075 2090543 1371913 660489 58141 878176 745383 87028 45765 37478 37478 85360 85360 72102 72102 8640 8640 22998 22998 440230 171181 160503 108546 89809 89809 2186166 2138923 46943 300 226853 122515 44588 59750 263485 46526 208359 8600 670660 549942 80478 40240 2007087 1645811 240851 120425 227924 186898 27351 13675 FOOD SERVICES 649715 649715 ATHLETICS 422572 422572 ACADEMIC SUPPORT 406901 406901 ACADEMIC MATERIALS 269188 269188 663764 582315 -14852 96301 29524693 24433805 3821544 1269344 500 500 1152769 2212707 2056363 2060868 1204245 1259477 606274 538321 155571 114463 16703 20134 59547948 34580973 25942684 24966975 9128132 7691496 248813 201744 85500 82333 40597554 39149018 2216259 2255878 8853224 8238205 10114264 9519307 270855 266899 4412903 6140099 25867505 26420388 X -772522 -2862595 5324833 5146694 10177738 10444531 14730049 12728630 40597554 39149018 X -1363816 -637603 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19293027 2497416 -236047 2319772 19234624 18649821 2308043 1077052 2741889 19293027 17696980 3815225 934703 3797087 18649821 18175762 4769915 -68246 5180451 17696980 0.18940 0.54300 0.26760 0 0 509249 509249 2249512 43934454 23186063 22997903 1733874 1680686 53188 11120859 9714224 1406635 24966975 CAPITAL LEASE OBLIGATIONS 368825 INTEREST RATE SWAP AGREEMENT 1304859 FUNDS HELD FOR OTHERS 299239 LINE OF CREDIT 2800000 DEFERRED COMPENSATION 1367176 6140099 28160877 29524693 -1363816 -368525 -269078 -637603 -2001419 24697278 -368525 -3022972 -3391497 28088775 72102 72102 28160877 26429619 0 26429619 72102 3022972 3095074 29524693 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, THE SCHOOL IS SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME, AS DEFINED BY THE INTERNAL REVENUE SERVICE. DURING THE YEAR ENDED JUNE 30, 2012, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC TOPIC 740-10), WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE SCHOOL FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. GENERALLY, THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR THE YEARS BEFORE 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP -269,078. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT -3,022,972. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT 3,022,972. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 AN ANNOUNCEMENT IS PLACED IN THE WASHINGTON POST NEWSPAPER PUBLICIZING THE SCHOOLS NONDISCRIMINATION POLICY. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES OVERSEAS TRIPS 42693 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES OVERSEAS TRIPS 181711 0 0 0 0 0 0 224404 0 224404 0 0 0 0 0 0 AZALEA FESTIVAL 489501 115720 373781 184876 GREENS SALE 108168 108168 57151 597669 115720 481949 242027 242027 239922 1 TUITION FINANCIAL AID 155 3022972 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL PROVIDES FINANCIAL ASSISTANCE BASED ON BOTH FINANCIAL NEED AND ACADEMIC MERIT. THE SCHOOL HAS AN INDEPENDENT PROCEDURE TO DETERMINE QUALIFICATION FOR FINANCIAL ASSISTANCE. THE SCHOOL ADHERES BY STRICT RULES TO PREVENT RELATED PARTIES SUCH AS DISQUALIFIED PERSONS FROM BENEFITING FROM FINANCIAL ASSISTANCE. X X 1 1 X X 0 0 0 0 0 0 0 0 0 DAVID M ARMSTRONG 323908 0 0 0 2772 0 17150 0 83962 0 427792 0 0 0 TIMOTHY HARRISON 227351 0 0 0 2772 0 16109 0 54009 0 300241 0 0 0 KENNETH ASHWORTH 182442 0 0 0 1806 0 12897 0 59703 0 256848 0 0 0 MARCOS WILLIAMS 131842 0 0 0 2233 0 9385 0 56733 0 200193 0 0 0 EHREN FEDEROWICZ 115915 0 0 0 236 0 8131 0 55861 0 180143 0 0 0 HANS FARNSTROM 144110 0 0 0 1323 0 10180 0 9955 0 165568 0 0 0 PART I, LINE 1A PART I, LINE 1A: A NON-TAXABLE HOUSING BENEFIT WAS PROVIDED TO INDIVIDUALS AS A CONDITION OF EMPLOYMENT. THE FOLLOWING INDIVIDUALS RECEIVED THE HOUSING BENEFIT: DAVID ARMSTRONG - $40,000 TIMOTHY HARRISON - $40,000 KENNETH ASHWORTH - $40,000 MARCOS WILLIAMS - $40,000 EHREN FEDEROWICZ - $40,000 DAVID ARMSTRONG RECEIVED NON-TAXABLE DISCRETIONARY SPENDING IN THE AMOUNT OF $20,000. MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2011-06-02 10114264 TO REFUND THE 1999 BONDS & REFINANCE THE ENTIRE OUTSTANDING LOAN BALANCE 0 0 0 594957 10114264 107717 10006547 2011 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 1 SUNTRUST 8.000000000000 0 0 0 0 0 X X 10 164085 MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY THE OUTSIDE ACCOUNTING FIRM ENGAGED BY THE SCHOOL. THE RETURN IS REVIEWED BY THE PRESIDENT, CFO, AND CONTROLLER BEFORE BEING MADE AVAILABLE TO THE TRUSTEES VIA A SECURE WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS POSTED TO THE BOARD'S CONFIDENTIAL WEBSITE PORTAL. TRUSTEES ARE ASKED TO READ THE POLICY AT THE BEGINNING OF EACH YEAR AND ADVISE THE SECRETARY OF ANY ISSUES THAT MIGHT BE OF CONCERN FORM 990, PART VI, SECTION B, LINE 15 THE SALARIES OF THE OFFICERS KEY EMPLOYEES ARE DECIDED BY THE USE OF COMPARABLE SALARY DATA AS PROVIDED BY THE ASSOCIATION OF INDEPENDENT SCHOOLS OF GREATER WASHINGTON (AISGW) AND THE ASSOCIATION OF MARYLAND INDEPENDENT SCHOOLS. THE AMOUNT OF THE FINAL COMPENSATION NUMBER IS THEN APPROVED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PAGE 6, PART VI, LINE 1A, NUMBER OF VOTING TRUSTEES THERE WERE TWENTY-SIX TRUSTEES DURING JUNE 30, 2012 AND ALL OF THEM ARE LISTED IN PART VII. AT THE END OF THE FISCAL YEAR, THERE WERE ONLY TWENTY-FIVE TRUSTEES. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -368,525. UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP -269,078. TOTAL TO FORM 990, PART XI, LINE 5: -637,603.